Possibilities to geolocate Youtube video into Google Map

This excerpt taken from Google Earth Blog: "The brief mention on the new feature in the YouTube blog doesn't tell us anything about what they've planned for this new capability. But, given the ability of Google Maps to show video clips inside placemark descriptions, it can't be that long before they have an ability to show YouTube videos based on location in Google Maps. In fact, I'm sure they are somehow creating KML files associated with the locations of the videos and will be able to show videos tied to a search for a location. There will be even more possibilities when they can have a KML network link to show video locations in either Google Earth or Google Maps. Having an ability to access YouTube videos which are geotagged with an API would be really nice. And, hopefully they will allow people to add location to existing YouTube videos."